Blackstone Minerals Inks Vietnam REE Menage a Trois

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THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX has joined a three-way Memorandum of Understanding (MoU) to cooperate on opportunities to develop a fully integrated rare earths mine to metals value chain in Vietnam.

Blackstone has entered the MoU with Vietnam Rare Earths JSC (VTRE) and ASX-listed, Australian Strategic Materials (ASX: ASM).

Blackstone brings its upstream mining and processing experience to the MoU table, with a world class in-country team located within the Northwest Vietnam rare earth district.

VTRE owns and operates the only Vietnamese midstream rare earths refinery and is seeking a strategic partner to develop upstream mining and processing capability.

ASM is an emerging vertically integrated producer of critical metals for advanced and clean technologies with a deep understanding of downstream processing of rare earths and the rare earth market.

Vietnam boasts the world’s largest rare earth element (REE) Reserves outside of China, the majority of which sit in the Northwest Region of the country, close to Son La Province where Blackstone’s Ta Khoa nickel project is located.

It is thought numerous potentially very high-grade REE deposits are available to be permitted and developed by companies that can demonstrate a full value chain capability and deliver a “mine to metal” REE hub in Vietnam.

VTRE is a mover and shaker in Vietnam and has owned and operated the country’s only midstream REE refinery for the past 12 years with the vision to become a prestige producer and supplier of rare earth products and expand the product ranges to deliver multi options for customer needs whilst focussing on researching and using advanced technology for production.

In April 2023, VTRE entered into a binding agreement with ASM for the supply of rare earth oxides with the intention to progress long term supply agreements potentially utilising Vietnam’s natural resources.

“It is not often that you find a potential partnership in which the strategic advantages and core competencies of each party are so complementary,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“For Blackstone, a potential move into Rare Earths in Vietnam aligns with our Technology Mineral strategy and is synergistic to our Ta Khoa project and our existing relationships in the EV industry; for VTRE, teaming up with Blackstone gives VTRE access to our extensive knowledge in ESG management, mining, minerals processing and refining; for ASM, it is a great opportunity to extend their relationship with VTRE and in to progress their vision of full vertical integration in critical minerals.

“With this MoU, Blackstone, VTRE and ASM will progress discussions with the view of potentially establishing a world leading fully integrated rare earths business.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Encounter Resources Hits Thick, high-Grade Niobium-REE at Aileron

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) reported the intersection of high-grade niobium and REE mineralisation at the company’s 100 per cent-owned Aileron critical minerals project in the West Arunta region of Western Australia.

Although in Western Australia, the Arunta project Is located approx. 600 kilometres west of Alice Springs.

Encounter’s drilling campaign followed earlier large gravity, magnetic and radiometric surveys at Aileron, from which it defined three initial drill targets at Caird, Crean and Hoschke.

The first two holes at Crean, drilled 1.5km apart on the Elephant Island Fault, intersected carbonatites with both RC pre-collars finishing in high-grade niobium and rare earths mineralisation.

Hole EAL008 intersected 94.7m of carbonatite from 55m to 149.7m.

Assays results from the 90m deep RC pre-collar returned:
34 metres at 1 per cent niobium (Nb2O5) and 0.6 per cent total rare earth oxide (TREO) from 56m to end of pre-collar, including 4m at 3.8 per cent Nb2O5 and 1.9 per cent TREO from 56m.

Hole EAL007 intersected 282m of carbonatite from 64m to end of hole at 346m.

Assay results from the 69m deep RC pre-collar returned:
2m at 1.2 per cent Nb2O5 and 0.6 per cent TREO from 67m to end of pre-collar.

“The intersection of high-grade niobium and rare earths at Crean in the first two holes drilled 1.5 kilometres apart is an incredible start and demonstrates the critical minerals potential that is emerging in the West Arunta,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“An 8,000 to 10,000 metres RC drill program is scheduled to commence in August to extend the niobium-REE mineralisation at Crean as well as drill testing a suite of new, high-quality targets.

“It’s still very early days but the success rate from the small number of holes drilled in the West Arunta is quite extraordinary and bodes well for future drill programs at Aileron.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Nexus Minerals Identifies Multiple LCT Pegmatites

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THE DRILL SERGEANT: Nexus Minerals (ASX: NXM) reported results from recent field reconnaissance undertaken on the company’s Merrimac LCT (lithium-caesium-tantalum) project in Victoria.

Nexus Minerals collected rock chip samples whilst field mapping that returned lithium oxide grades up to 2.85 per cent, identified in fertile LCT pegmatite dykes.

A total of 13 rock chip samples returned anomalous and high-grade lithium assay results greater than 0.2 per cent lithium oxide (Li2O).

Five samples returned high-grade Li2O, including 2.85 per cent, 1.37 per cent, 1.28 per cent, 1.11 per cent and 1 per cent.

The company has also commenced activities on its New South Wales critical minerals project, from which it has already collated and reprocessed high quality geophysical data.

“To receive such positive results from the first field campaign at the Merrimac LCT project is hugely encouraging,” Nexus Minerals managing director Andy Tudor said in the company’s ASX announcement.

“The results of these initial exploration activities continue to validate and support Nexus’ critical minerals strategy in Victoria and New South Wales, which has seen a significant project generation effort built from first principals geology.

“We look forward to replicating and expanding upon this initial success in New South Wales, where high quality geophysical data has been reprocessed for interpretation and target generation.

“We are on track for boots on the ground in New South Wales later this year where the scale and opportunity for discovery is yet to be fully realised.”

Nexus Minerals has secured the largest package of exploration tenure in NSW (extending south into Victoria) where it intends to undertake the search for critical minerals – lithium, caesium, tantalum, tin and copper.

Very limited exploration for these critical minerals has taken place in this highly prospective geological terrain.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Fenix Resources Finalises Acquisition of Mid-West Iron Ore and Port Assets

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THE BOURSE WHISPERER: Fenix Resources (ASX: FEX) added the strongest string yet to its iron ore bow with the acquisition of Mount Gibson Iron Limited’s Mid-West iron ore, port and rail assets near Geraldton in Western Australia.

The Mid-West assets Fenix has acquired include the Shine iron ore mine, two on-wharf bulk material storage sheds at Geraldton Port, two rail sidings at Ruvidini and Perenjori, and mining assets and obligations at the Extension Hill iron ore mine.

Fenix itemised the benefits the acquisition of the iron ore and port assets provides to be:

• reduce the cost of the company’s existing Iron Ridge production;
• expand production from Iron Ridge;
• re-commission the Shine iron ore mine as a second production asset;
• create a substantial new revenue generating business from the provision of logistics solutions to existing and future Mid-West bulk commodity producers; and
• benefit from the expected growth in bulk commodity production and export in the Mid-West.

“Acquiring Mount Gibson’s Mid-West iron ore and port assets is a game changer,” Fenix Resources chairman John Welborn said in the company’s ASX announcement.

“We are extremely excited about the start of a new chapter for Fenix.

“We are delighted to be continuing the successful legacy of Mount Gibson in the Mid-West and to have their support as a large shareholder.

“This transformational event for Fenix will drive material economies of scale, provide flexibility to expand iron ore production and operate new projects concurrently.

“In expanding a mine-to-port logistics solution for ourselves and other producers in the Mid-West, we also create employment opportunities which will strongly support regional economic growth and create exceptional shareholder value.”

 

 

Global Lithium Resources (ASX: GL1) Exploration Manager Logan Barber

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Global Lithium Resources (ASX: GL1) exploration manger Logan Barber zoomed into The Resources Roadhouse to bring Wally Graham up to speed on the company’s new rare earths discovery.

Gascoyne Resources Increases Never Never Gold Resource Beyond 720,000 Ounces

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THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) reported an updated Mineral Resource Estimate (MRE) for the Never Never gold deposit, part of the company’s 100 per cent-owned Dalgaranga gold project in Western Australia.

The MRE update has come in at: 3.83 million tonnes at 5.85 grams per tonne gold for 721,200 ounces, comprising 2.57 million tonnes at 7.64g/t for 630,100 ounces Underground and 1.27 million tonnes at 2.24g/t for 91,100 ounces for a constrained open pit.

The Resource Classification breakdown for the updated Never Never MRE stands at:

2.95 million tonnes at 5.78g/t gold for 548,400 ounces (76%) classified as Indicated; and
0.88 million tonnes at 6.1g/t gold for 172,800 ounces (24%) classified as Inferred.

“Less than six months ago we established Never Never as a significant new high-grade gold discovery within the Dalgaranga field with a very healthy high-grade resource of 303,000 ounces at 4.64 grams per tonne,” Gascoyne Resources managing director and CEO Simon Lawson said in the company’s ASX announcement.

“Since then, we have been single-minded in focusing on adding high-grade ounces.

“This landmark resource upgrade provides unequivocal evidence that this is one of the most exciting new gold discoveries seen in Western Australia in recent years – and an asset that has clear potential to underpin a potential restart decision for the Dalgaranga processing plant.

“The substantial upgrade, which has seen the contained ounces from the previous MRE more than doubling, has been achieved at an average discovery cost to date of just $13 per ounce.

“This shows the enormous value that can be created with cost effective and targeted exploration!

“Given the strategic location of the relatively new 2.5 million tonnes per annum processing plant sitting at the centre of this resource inventory, we can now see a clear pathway to developing a very solid +5-year mine plan.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Meteoric Resources Extends High-Grade Caldeira REE Mineralisation

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THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) reported diamond drilling results from the company’s Caldeira rare earth elements (REE) project in Brazil.

Meteoric Resources said recent diamond drilling at the project and demonstrated clay zone and high-grade REE mineralisation extends much deeper than previously encountered.

Mineralised trends identified include to 36 metres at the Capão do Mel prospect and 56 metres at the Figueir prospect.

Meteoric recently published a maiden Mineral Resource Estimate (MRE) for the Caldeira project of 409 million tonnes at 2,626 total rare earth oxide (TREO) at a 1,000ppm cut off.

The company believes the new diamond drilling, which extended the Figueira and Capão do Mel mineralisation, has positive implications for any future resource estimate should the trend continue.

“The new assays clearly show there is significant extensions at depth at all prospects and indeed this is particularly clear at Capão do Mel, where the diamond drilling has extended the mineralisation to a depth of thirty-six (36) metres and at Figueira where we see REE mineralised zones down to sixty-seven (67) metres,” Meteoric Resources executive chairman Dr Andrew Tunks said in the company’s ASX announcement.

“In fact, the diamond drilling at all six resource areas has extended the maximum depths of mineralisation significantly.

“The Caldeira project is clearly significantly higher grade than any other IONIC clay REE yet documented.

“The coming months will see an exciting time for the company with considerable activity following on from these diamond results.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Metal Hawk Raises $1.2m to Advance Lithium-Nickel-REE Projects

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THE BOURSE WHISPERER: Metal Hawk (ASX: MHK) received firm commitments from sophisticated investors to raise $1.2 million.

Metal Hawk indicated the proceeds will be put towards exploration activities at the company’s Yarmany and Fraser South projects in Western Australia.

Metal Hawk recently acquired the Yarmany nickel and lithium project, north-west of Coolgardie in WA’s Eastern Goldfields where limited historical drilling has confirmed a favourable geological setting with potential for komatiite-hosted nickel sulphides and pegmatite-hosted lithium mineralisation.

The company also bought out IGO’s 51 per cent JV interest at the Fraser South project where it has completed a maiden drilling program that identified clay-hosted rare earth element (REE) mineralisation.

“We look forward to an exciting period for the company with lithium and nickel exploration ramping up at Yarmany and the next phase of drilling at Fraser South due to commence shortly,” Metal Hawk managing director Will Belbin said in the company’s ASX announcement.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Golden Mile Resources to Commence Drilling at Quicksilver

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THE DRILL SERGEANT: Golden Mile Resources (ASX: G88) is primed and ready to commence exploration RC drilling at the company’s Quicksilver nickel-cobalt project on the outskirts of Perth in Western Australia.

Golden Mile Resources has a field crew mobilised and a drill rig scheduled to arrive soon to undertake the Quicksilver primary drilling program that is to consist of nine RC holes to test the potential of disseminated nickel sulphides within the primary zone beneath the existing nickel-cobalt oxide Resource of 26.3 million tonnes at 0.64 per cent nickel, 0.043 per cent cobalt for 168,500 tonnes contained nickel and 11,300 tonnes contained cobalt.

The company anticipates the drilling may also provide further insight into the source of the Rare Earth Element (REE) mineralisation previously encountered in the oxide which remains unexplained.

“It’s exciting to commence this campaign on the back of the previous excellent drill results and test the primary potential underneath the oxide,” Golden Mile Resources managing director Damon Dormer said in the company’s ASX announcement.

“The possibility of disseminated nickel sulphides could increase the longevity of Quicksilver and provide significant scaling opportunities.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Horizon Minerals Estimates Resources for Monument and Golden Ridge North

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THE DRILL SERGEANT: Horizon Minerals (ASX: HRZ) reported the first Mineral Resource Estimates (MRE) for the company’s Monument and Golden Ridge North prospects near Kalgoorlie in Western Australia.

The Monument gold prospect is part of Horizon’s Cannon project group and is located less than 1km from the proposed Cannon underground project, 30km to the southeast of Kalgoorlie.

The Golden Ridge North prospect is immediately adjacent to the historic Golden Ridge open pit mine, 20km to the southeast of Kalgoorlie.

The JORC compliant resources estimated by Horizon for both deposits are as follows:

Monument – 395,000 tonnes at 1.97 grams per tonne gold for 25,000 ounces at a 0.8g/t gold cut-off grade; and

Golden Ridge North – 1.42 million tonnes at 1.23g/t gold for 57,000 ounces at a 0.8g/t gold cut-off grade.

Horizon noted that the addition of these new resources, and reduction due to the completion of the Gunga West divestment, the company’s total Mineral Resource estimate now stands at 23.22 million tonnes at 1.69g/t gold for approx. 1.3 million ounces.

“These projects provide Horizon with additional potential for satellite ore sources to complement the underground production at the Cannon gold project due to their proximity, enabling synergies with shared infrastructure and personnel,” Horizon Minerals CEO Grant Haywood said in the company’s ASX announcement.

“We shall immediately commence the study work to bring these maiden resources into an Ore Reserve and progress approvals in parallel, as we build our production profile to reach our ultimate goal of becoming an emerging mid-tier gold business for the benefit of all stakeholders.”

Horizon has drilling underway at Monument focussing on the shallower mineralisation aiming to upgrade this portion of the resource to an Indicated category.

At the Golden Ridge North deposit, a scoping study has been initiated to examine open pit mining opportunities in conjunction with Monument.